Brixmor Ppty Group Inc Stock Price, News & Analysis

Brixmor Property Group (NYSE: BRX) has announced its participation in the BofA Securities 2024 Global Real Estate Conference. The company's presentation is scheduled for Tuesday, September 10, 2024, from 3:00 PM ET to 3:35 PM ET. Investors and interested parties can access a live webcast of the presentation through Brixmor's website under the Investors tab.

A replay of the webcast will be available until September 12, 2025, providing an extended opportunity for those unable to attend the live event. This presentation at a major industry conference offers Brixmor an important platform to showcase its strategies and performance to a global audience of real estate professionals and investors.

Kilroy Realty (NYSE: KRC) reported its Q2 2024 financial results, highlighting:

• Revenues of $280.7 million
• Net income of $0.41 per diluted share
• FFO of $132.6 million, or $1.10 per diluted share
• Stabilized portfolio 83.7% occupied and 85.4% leased
• Signed ~235,000 sq ft of leases
• Total liquidity of $1.9 billion

The company updated its full-year 2024 FFO guidance to $4.21-$4.31 per share. KRC also announced key personnel changes, including a new CFO and General Counsel. The company continues to focus on sustainability and has maintained carbon-neutral operations since 2020.

Brixmor Property Group (NYSE: BRX) reported strong Q2 2024 results, with net income of $0.23 per diluted share and Nareit FFO of $0.54 per diluted share. Key highlights include:

- Record rent spreads of 27.7% on new and renewal leases
- Total leased occupancy increased to a record 95.4%
- Same property NOI growth of 5.5%
- $36.8 million of reinvestment projects stabilized at 9% NOI yield
- $17.3 million of acquisitions completed

The company raised its 2024 guidance, now expecting Nareit FFO of $2.11-$2.14 per share and same property NOI growth of 4.25-5.00%. Brixmor also announced several executive promotions, including Brian T. Finnegan to President and COO.

Brixmor Property Group has released its fifth annual Corporate Responsibility (CR) report, showcasing its commitment to environmental, social, and economic sustainability. Key achievements in 2023 include maintaining a zero gender pay gap for four consecutive years, linking executive bonuses to ESG goals, and earning the highest Governance QualityScore of '1' from ISS. The company also achieved a 50% reduction in Scope 1 and 2 greenhouse gas emissions compared to 2018, increased renewable energy capacity to 11.2 MW, and converted 96% of its portfolio to LED lighting.

Additionally, Brixmor reported a 42% reduction in common area water consumption since 2016 and stabilized approximately $1 billion in reinvestment projects since 2016. The CR report also highlights over 3,400 hours of employee volunteer service in communities.

Brixmor Property Group (NYSE: BRX) will announce its second quarter 2024 earnings on Monday, July 29, 2024, after the market closes.

The company will host a teleconference to discuss the results on Tuesday, July 30, 2024, at 10:00 AM ET. The event will be available via a live webcast under the Investors tab on the Brixmor website.

A replay of the webcast and the teleconference call will be accessible until midnight ET on Tuesday, August 13, 2024.

For further information, visit Brixmor's official website or follow them on various social media platforms including LinkedIn, Facebook, Instagram, and YouTube.

Brixmor Property Group announced the pricing of a $400 million offering of 5.750% Senior Notes due 2035.

The notes will be issued at 99.222% of par value with semi-annual interest payments starting on August 15, 2024.

The offering is expected to close on May 28, 2024, subject to customary closing conditions.

Net proceeds are intended for general corporate purposes, including debt repayment.

Wells Fargo Securities, BofA Securities, RBC Capital Markets, and Scotia Capital are joint book-running managers for the offering.

Brixmor Property Group Inc. announced the return of James M. Taylor Jr. from medical leave to resume his roles as Chief Executive Officer and President, effective May 20, 2024. Brian T. Finnegan will continue as Senior Executive Vice President and Chief Operating Officer.

The Cordish Companies revealed details about their Live! destination, Live! at The Pointe Orlando, opening this fall in Orlando, Florida. The dining and entertainment destination will offer an unparalleled experience with various venues, hiring over 300 team members. Live! brand is known for creating unique entertainment destinations across the U.S., attracting 55 million visitors annually. The project will feature anchor concepts like HOUNDSMEN ENGLISH LOUNGE, SHARK BAR, SPORTS & SOCIAL, and PBR COWBOY BAR. Live! at The Pointe Orlando aims to become a premier destination for locals and tourists, offering a diverse range of experiences.

Brixmor Property Group Inc. reported strong operating performance for the first quarter of 2024, achieving record total, anchor, and small shop leased occupancy, as well as a record lease retention rate. The company also increased its Nareit FFO and same property NOI growth expectations for 2024. Financially, the company reported net income of $0.29 per diluted share, Nareit FFO of $0.54 per diluted share, and an increase in same property NOI of 5.9% compared to the previous year. Additionally, the Company's Board of Directors appointed an interim CEO and President due to the temporary medical leave of the previous CEO. The company issued $400.0 million of Senior Notes due 2034 and updated its 2024 Nareit FFO per diluted share expectations to $2.08 - $2.11 and same property NOI growth expectations to 3.50% - 4.25%.